Associated Capital Group, Inc. announced its intention to voluntarily delist its Class A common stock from the NYSE and deregister under the Securities Exchange Act of 1934.
Following the delisting from the NYSE, AC plans to provide liquidity to its Class A stock shareholders by listing on the OTCQX platform.
The decision to delist and deregister is based on cost-saving measures and redirecting financial and management resources to other business opportunities.
Voluntary Delisting
AC is voluntarily delisting its Class A common stock from the NYSE to deregister under the Securities Exchange Act of 1934.
OTCQX Listing
AC plans to list its Class A stock on the OTCQX platform to provide liquidity to its shareholders.
Board's Decision
The Board believes that delisting and deregistering will benefit the Company and its stockholders by reducing costs and redirecting resources.
- The delisting and deregistration will result in cost savings by avoiding the preparation and filing of periodic reports with the SEC.
- The decision aims to reduce legal, audit, and management costs associated with being a reporting company.
- Once delisted, AC intends to focus on a broader set of business opportunities with redirected financial and management resources.
The voluntary delisting and deregistration mark a strategic shift for Associated Capital Group, Inc., enabling cost savings and redirecting resources for new business ventures.